This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sify Reports Revenues Of $50.73 Million For First Quarter Of Fiscal Year 2011-12

"Projects executed for the Indian government have established our reputation as a company that is capable of delivering government projects within the stipulated time. We are now on stream to hand over three State Data Centres.

"Post its reorientation towards becoming self sustaining and profitable, the Commercial and Consumer business is beginning to see accelerated growth in the new segments we are focusing on, particularly with the fast-growing SMB and SOHO markets in its ambit. Our Cloud computing infrastructure, one of the first public cloud services offered in India, will emerge as unified platform for customers from retail, SOHOs, SMBs and Enterprise, making the services more cost-effective and scalable.

"The Government of India’s move to classify the proposed fibre-optic network as a national resource and make it available on equal terms to all operators wishing to provide broadband services will lead to a more level playing field for Sify. It will also allow us to further leverage our investments to deliver value-added services to customers across India. We are ideally positioned to ride the IT services wave in India with our network coverage, data centres footprint across metros and small cities, home-grown applications delivered on the cloud model and our international bandwidth capacity.”

Mr. MP Vijay Kumar, Chief Financial Officer, said, “We are now in the process of building additional capacity through our Data Centre build plan, Network expansion and new development plans for Sify Software. The new investments will add to the existing portfolio of our Network presence in 667 cities, 6 Data centres, millions of hours in skilled manpower across different business verticals and an appreciating investment in a financial services entity.

"As revenue continues to scale, we expect the anticipated benefits of these investments to be realized on both the top and bottom line.”

Unaudited Consolidated income statement as per IFRS
( In $ million, all translated at $1 = Rs.44.72)
Description Quarter ended   Quarter ended   Quarter ended   Year ended
June June March March
2011 2010 2011 2011
Enterprise 45.02 32.25 31.76 128.64
Software 3.48 3.17 3.67 13.58
Commercial and consumer 2.23   3.22   2.73   11.77  
Revenue 50.73   38.64   38.16   153.99  
Cost of Revenues (34.08 ) (24.02 ) (22.46 ) (94.13 )
Selling, General and Administrative Expenses (13.85 ) (14.11 ) (13.35 ) (53.72 )

2.80   0.51   2.35   6.14  

Depreciation and Amortisation expenses
(3.81 ) (3.94 ) (3.66 ) (15.38 )
Net Finance Expenses (1.46 ) (1.39 ) (0.70 ) (4.76 )
Other Income 0.09 0.42 0.30 1.62
Share of Affiliates 0.47 0.35 0.52 1.98
Profit / (loss) Before tax (1.91 ) (4.05 ) (1.19 ) (10.40 )
Income Taxes - - -
Profit / (loss) for the period (1.91 ) (4.05 ) (1.19 ) (10.40 )

As of June 30, 2011, Sify’s total number of issued and outstanding ordinary equity shares was 178.4 million shares. Of this, 38.9 million shares are American Depositary Shares (ADS). The remaining 139.5 million shares held in India, are not deposited as ADS and do not trade on Nasdaq or on any market in the United States or India. As previously reported in Sify’s filings with the United States Securities and Exchange Commission (the SEC), in August 2010 the Board of Directors approved the issuance of 125 million shares to Sify’s promoter group in a private placement, and the private placement was approved by Sify’s shareholders in September 2010.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.37%
FB $118.03 -0.46%
GOOG $696.66 -0.22%
TSLA $234.91 -2.80%
YHOO $36.13 -1.10%


Chart of I:DJI
DOW 17,708.51 -182.65 -1.02%
S&P 500 2,060.14 -21.29 -1.02%
NASDAQ 4,765.0240 -52.57 -1.09%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs